Price for Offal, Edible; of Swine, Livers, Frozen in the Philippines - 2023

Price for Offal, Edible; of Swine, Livers, Frozen in the Philippines (CIF) - 2023

In July 2023, the average import price for offal, edible; of swine, livers, frozen amounted to $903 per ton, shrinking by -3.6% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in February 2023 an increase of 11% against the previous month. As a result, import price attained the peak level of $997 per ton. From March 2023 to July 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the United States ($1,300 per ton), while the price for Chile ($829 per ton) was amongst the lowest.

From November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Canada (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Imports of Offal, Edible; of Swine, Livers, Frozen in the Philippines

In 2022, the amount of offal, edible; of swine, livers, frozen imported into the Philippines reached 27K tons, increasing by 13% compared with the previous year. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +6.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +109.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 86%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of offal, edible; of swine, livers, frozen skyrocketed to $25M in 2022. Overall, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 117%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Import of Offal, Edible; of Swine, Livers, Frozen in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	7.5	3.2	8.4	10.3	11.2%
Brazil	0.8	1.4	2.4	4.4	76.5%
Australia	1.0	0.9	2.2	2.3	32.0%
Netherlands	3.1	1.8	3.2	2.3	-9.5%
Canada	1.3	0.9	1.2	1.7	9.4%
Ireland	1.5	0.3	0.9	1.4	-2.3%
France	0.2	N/A	0.3	0.5	35.7%
Belgium	0.6	0.7	1.0	0.5	-5.9%
Others	0.4	0.3	0.8	1.2	44.2%
Total	16.3	9.4	20.4	24.6	14.7%